The Rasmussen Employment Index slipped two points in July to 80.5, marking the lowest level of confidence since December 2011.

Still, worker confidence is up 10 points from a year ago and 12 points from two years ago.

Now, however, just 20% of working Americans report that their firms are hiring while 22% report layoffs. This marks the first time in nine months that the number laying off workers has topped the number hiring.

Generally speaking, a decrease in the Rasmussen Employment Index suggests the upcoming government reports on job creation will be weaker than the prior month's. However, perceptions of the labor market have been somewhat erratic lately.

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